Market Movers | Wave Life Sciences Rockets 100%; Kymera Therapeutics Soars 48%; Carvana, DXYZ Jump 8% Each; CoreWeave Falls 5%

Wave Life Sciences shares jumped over 100% on Monday after it said it received encouraging preliminary trial data for its investigational weight loss drug WVE-007. The clinical-stage biotechnology company said that it has seen positive interim data from the lowest therapeutic cohort of the continuing first-in-human Inlight trial which is evaluating WVE-007.

Shares of Kymera Therapeutics rose 48% to $98.82. Kymera says its experimental oral treatment for eczema eased symptoms and itching in a small early-stage study, while also helping patients who had asthma or hay fever.

Shares of Carvana Co. rallied 8% on Monday. Carvana and two other companies will join the S&P 500 in about two weeks, S&P Dow Jones Indices said late Friday - dashing the hopes of those investors who expected bigger tech names or a crypto giant to get the honors this time around.

Joining the online used-car retailer on the premier U.S. stock-market index SPX are building-materials maker CRH PLC as well as Comfort Systems USA, which provides mechanical and electrical services for commercial and industrial buildings. Shares of CRH rose 5.3% while Comfort Systems gained 1.4%.

Elon Musk pushed back Saturday against reports that SpaceX is seeking new funding at an $800 billion valuation. The Tesla Inc. CEO did not address reports of a late 2026 initial public offering (IPO) target in his post.

He said the company holds stock buybacks twice a year to give employees and investors a chance to sell shares, rather than to raise new capital. Destiny Tech100 Inc jumped 8% on the news.

CoreWeave stock fell over 5% after the company unveiled plans to raise $2 billion by issuing debt that can be exchanged for shares. The articial intelligence computing firm will issue the convertible notes due 2031 in a private offering, with an option to increase the deal by an extra $300 million.